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Mutilated coins circulating locally have no value ...

Waukon State Bank would like businesses and community members to be aware that there are reports of mutilated coins being used in Waukon, such as those pictured above. The coins are being presented as both loose change and bundled in rolls to pay for purchases. According to Waukon State Bank officials, there is not an outlet for banks to return mutilated coins like there is for mutilated paper currency, therefore rendering the coins to be of no value and unable to be honored by the banking industry. The bank suggests that businesses should inspect all currency and coins before accepting it and should not accept rolled coins or loose mutilated coins for purchases. If a business encounters individuals using mutilated coins, it is suggested to refuse payment and direct them to their local bank. Those with further questions may contact any local bank or the Waukon Police Department for further information. Photo by Joe Moses.